SUBJECT/RECOMMENDATION:
Title
Approve local funding agreement between the State of Florida, Department of Transportation and the City of Clearwater to make modifications and improvements on Drew Street in the amount of $3,000,000 and authorize the appropriate officials to execute same.
Body
SUMMARY:
In 2016, residents living on or near Drew Street petitioned the City to pursue a complete streets grant study for the Drew Street Corridor. Upon successful completion of that initial study, subsequent additional detailed analysis was performed. The ultimate result was a completed Florida Department of Transportation (FDOT), District Seven, Drew Street Complete Street Corridor Study. This study reviewed the technical feasibility of providing complete street treatments on Drew Street (State Road 590) from N. Osceola Avenue to N. Keene Road.
The Clearwater officials and FDOT staff have reviewed a variety of options to improve the safety and efficient flow of traffic in this Drew Street corridor. On June 3, 2024, FDOT staff presented conceptual designs that were considered by Council and approved on June 6, 2024.
Based on the approved concepts, FDOT District 7 has developed a five-year work program that includes construction on State Route 590 or Drew Street, from Osceola Avenue to US Hwy 19. This project includes reconfiguration of some lanes and intersections between Osceola Ave and Hillcrest Ave as shown in the attachment. Under this agreement, FDOT will lead this project and be responsible for construction and engineering inspection services, and the hiring of contractors.
FDOT has advised the estimated time frame for this project would include FDOT beginning to receive bids in May 2026. It is then projected to take 60 to 90 days from receiving bids for FDOT to get a contract executed with the winning bidder/contractor. From that point, the project is anticipated to be complete in approximately 250 days.
Per the agreement, the City of Clearwater will provide $3,000,000 in funding towards this project. $16,146,289 in Federal funds will be used to support this project.
APPROPRIATION CODE AND AMOUNT:
A first quarter budget amendment will establish capital improvement project 315-C2506, Drew Street, and provide a budget increase of $3,000,000 recognizing the following transfers to fund this agreement: $540,000 in Road Millage revenue; $440,000 in Local Fuel Tax revenue; and $2,020,000 from General Fund reserves.
USE OF RESERVE FUNDS:
Funding for this agreement will be provided by a first quarter budget amendment allocating General Fund reserves in the amount of $2,020,000 to capital improvement project 315-C2506, Drew Street. Inclusive of this item if approved, a net total of $10,930,000 of General Fund reserves has been used to date to fund expenditures in the 2024/25 operating budget. The remaining balance in General Fund reserves after the 8.5% reserve is approximately $29.8, or 13.1% of the current General Fund operating budget.
STRATEGIC PRIORITY:
4.4 - Develop accesssible and active transportation networks that enhance pedestrian safety and reduce citywide greenhouse gas emissions.